Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#13J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 521
Cash and cash equivalents - reserve fund 7,735
Bank certificates of deposits - reserve fund 2,897
Due from shareholders 568
Due from commercial tenants 180
Other receivables 16
Prepaid real estate taxes -0-
Prepaid expenses 272
Property and equipment - net 36,908
Investment in NCB stock 115
Security deposits held 1,482
Total Assets 50,695
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 876
Capital improvements payable -0-
Abatements payable 1,210
Maintenance charges received in advance 70
Deferred commercial rent 636
Mortgage payable 41,863
Less: Mortgage costs - net (305)
Security deposits payable 1,482
Total Liabilities 45,833
Shareholders' Equity
Capital stock 1,151
Additional paid-in capital 72,553
Retained earnings (deficit) (68,843)
Total Shareholders' Equity 4,862
Total Liabilities and Shareholders' Equity 50,695

Statements of Operations

Statements of Operations
Income
Maintenance charges 25,563
Less: Abatements (2,435)
Operating assessments 2,755
Commercial rent 2,365
Transfer fees 453
Laundry income 105
Other income 661
Total Income 29,466
Expenses
Real estate taxes 15,895
Less: Abatements (2,435)
Mortgage interest 1,630
Payroll and related expenses 7,932
Electric and gas 360
Heating 773
Water and sewer 647
Repairs and maintenance 1,324
Insurance 550
Management fees 658
Professional fees 492
Corporation taxes 155
Office and administration 272
Total Expenses 28,253
Income from Operations 1,213
Other Items
Capital assessment 5,159
Commercial rent - straight-line adjustment 100
Depreciation (3,015)
Interest - amortization of mortgage costs (49)
Net Income (Loss) 3,408